Lucas Ferreira

Thiago Duarte

Isabella Simonato

Leonardo Alencar

Carlos Laboy

Henrique Brustolin

Ricardo Alves

Felipe Ucros

Felipe Ucros Nunez

Guilherme Palhares

Isabella Simonato Alonso

Renata Cabral

Renata Fonseca Cabral Sturani

Robert Ottenstein

Rodrigo Alcantara

- Ambev reported **Q3 2025 EBITDA growth of 3%** with **50 basis points of margin expansion** and **normalized EPS grew 8%**, driven by **7% net revenue per hectoliter growth** despite softer industry volumes in Brazil.  **[0001565025_2217186_1]** 
- The Board of Directors approved a **$1 billion share buyback program** on October 29, 2025, for canceling shares, and a new **BRL2.5 billion buyback program** is starting after the previous one completed in June.  **[0001565025_2217186_1]** **[0001565025_2217186_5]** 
- Year-to-date, the company's top line grew **4%**, EBITDA was up over **7%** with **120 basis points of margin expansion**, and normalized EPS grew above **7%**, supported by cost initiatives and disciplined management.  **[0001565025_2217186_1]** **[0001565025_2217186_13]** 
- Industry softness in Brazil was attributed to colder weather (approximately **70%** of the decline) and constrained consumer purchasing power, but Ambev's premium and super premium brands continued to grow volumes by more than **9%**.  **[0001565025_2217186_1]** **[0001565025_2217186_2]**

Ambev Reports Q3 2025 Results and Announces Share Buyback Program

- AMBEV S.A. has approved a **share buyback program** to repurchase up to **208,000,000 common shares**.  **[1565025_0001292814-25-003693_abev20251029_6k.htm:0]** 
- The program's primary purpose is **share cancellation** to maximize shareholder value and will be in effect until **April 29, 2027**.  **[1565025_0001292814-25-003693_abev20251029_6k.htm:0]** **[1565025_0001292814-25-003693_abev20251029_6k.htm:1]** **[1565025_0001292814-25-003693_abev20251029_6k.htm:2]** 
- The company currently has **4,253,039,958 outstanding shares**.  **[1565025_0001292814-25-003693_abev20251029_6k.htm:0]** **[1565025_0001292814-25-003693_abev20251029_6k.htm:1]** 
- The estimated cost for the maximum repurchase is approximately **R$ 2,500,000,000.00**, based on the October 29, 2024 closing share price, representing about **15% of the Company's cash**.  **[1565025_0001292814-25-003693_abev20251029_6k.htm:3]** 
- The acquisition will be recorded as a debit on the capital reserve from the **September 30, 2025** balance sheet.  **[1565025_0001292814-25-003693_abev20251029_6k.htm:0]** **[1565025_0001292814-25-003693_abev20251029_6k.htm:2]**

AMBEV S.A. Approves New Share Buyback Program

- Ambev reported **net income of R$4,863,720 thousand** and **basic earnings per share of R$0.3041** for the third quarter of 2025, with nine-month net income reaching **R$11,458,935 thousand**.  **[1565025_0001292814-25-003686_abevitr3q25_6k.htm:3]** 
- The company completed the **sale of 61.83% of its interest in SLU Beverages LTD.** for **US$115 million (R$612 million)** on July 31, 2025, recognizing a **gain of R$884 million** related to the transaction.  **[1565025_0001292814-25-003686_abevitr3q25_6k.htm:10]** 
- A **dividend of R$0.1283 per share** was approved on July 30, 2025, and paid on October 6, 2025.  **[1565025_0001292814-25-003686_abevitr3q25_6k.htm:10]** 
- A new **share buyback program** was approved on October 29, 2025, authorizing the repurchase of up to **208,000,000 common shares** until April 29, 2027.  **[1565025_0001292814-25-003686_abevitr3q25_6k.htm:47]** 
- The **effective tax rate for Q3 2025 was 6.72%**, influenced by the SLU disposal and a **R$375 million** impact from the partial reversal of a tax liability.  **[1565025_0001292814-25-003686_abevitr3q25_6k.htm:16]** **[1565025_0001292814-25-003686_abevitr3q25_6k.htm:17]**

Ambev Reports Q3 2025 Results, Announces Subsidiary Sale and New Share Buyback Program

- Ambev reported **1.2%** organic net revenue growth and **2.9%** organic Normalized EBITDA growth for Q3 2025, with Normalized EBITDA margin expanding **50 bps** to **33.9%**.  **[1565025_0001292814-25-003688_abevpr3q25_6k.htm:1]** 
- Consolidated volumes declined by **5.8%** organically in Q3 2025, primarily due to soft industries in Brazil, Canada, and Latin America South.  **[1565025_0001292814-25-003688_abevpr3q25_6k.htm:1]** 
- Normalized Profit for Q3 2025 increased by **7.4%** to **R$ 3,843.1 million**, while cash flow from operating activities decreased by **14.7%** compared to Q3 2024.  **[1565025_0001292814-25-003688_abevpr3q25_6k.htm:1]** 
- The Board of Directors approved a **R$ 2.5 billion** share buyback program for up to **208,000,000 shares** to be executed within the next 18 months.  **[1565025_0001292814-25-003688_abevpr3q25_6k.htm:1]**

Ambev S.A. Reports Q3 2025 Results

AMBEV (ABEV)